Stock Market Weekly Wrap: Bears Take Charge! Nifty, Sensex Erase Gains with 2% Weekly Fall Amid IT Weakness

The Indian stock market ended the week on a weak note, wiping out earlier gains. Both Nifty 50 and Sensex slipped around 2 percent over the week. Selling pressure came mainly from a steep fall in major IT names after fourth-quarter results, while a soft Indian rupee and volatile crude oil prices further hurt sentiment.

Investors remained cautious as rising global crude oil prices, linked to Middle East tensions, raised concerns on inflation and margins. The Indian rupee's continuous decline against the U.S. dollar added pressure. Market participants worried that higher import costs and slower global demand could weigh on corporate earnings in the coming quarters.

Stock Market closing shows sharp fall in indices

On April 24, Indian equity indices extended their losing run for a third straight session. The Nifty 50 slipped below the 24,000 mark, closing at 23,897.95, down 275.10 points or 1.14 percent. The Sensex ended at 76,681.29, a fall of 982.71 points or 1.27 percent, reflecting broad weakness across leading stocks.

Sector moves highlight Stock Market weakness in IT and defensives

All key sectoral indices finished in negative territory, underlining the broad-based decline across the stock market. The Nifty IT index recorded the steepest fall, dropping 5.29 percent after cautious guidance from large technology firms. Media, Pharma and Healthcare indices also lost between 1 percent and 3 percent, leaving no major sector able to post gains.

The broader market also felt the selling pressure as investors trimmed positions beyond frontline indices. The Nifty Midcap 100 slipped 0.96 percent, while the Nifty Smallcap index fell 0.87 percent. This suggested traders were reducing exposure across segments, not just in large-cap counters, amid concerns over global growth and currency weakness.

Infosys Q4 results weigh on Stock Market IT sentiment

Infosys announced muted performance for Q4 FY26, signalling weak demand recovery in technology services. Reported revenue grew 2 percent quarter-on-quarter, but constant currency growth came in slightly lower. The company pointed to caution in AI-related spending and broader macro uncertainty. That outlook, combined with HCL Tech commentary, dragged down sentiment across the entire IT basket.

Rupee slide and crude add pressure on Stock Market mood

The Indian rupee's performance deepened concerns during the week as crude prices stayed elevated. The rupee ended at 94.25 per dollar on Friday, compared with Thursday's close of 94.11. On Thursday, the rupee logged a fourth straight losing session, its longest such streak since mid-January, closing at 94.1050, down 0.3 percent for the day.

Currency traders pointed to stalled peace talks between the U.S. and Iran, which pushed oil above $100 per barrel. The rupee has fallen more than 1 percent during the week, pressured by nearly a 15 percent surge in crude prices. With equities sliding, a weaker currency and higher energy costs continued to shape a cautious outlook for the Indian stock market.